CANADA STOCKS-TSX may open mixed as firm data offsets weaker oil

Thu Jul 16, 2009 8:40am EDT
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TORONTO, July 16 (Reuters) - Toronto's main stock market index could open mixed on Thursday, as falling oil prices weigh on the resource-heavy index, even as positive U.S. financial earnings and economic data fuel hopes for recovery.

World stocks hovered around flat on Thursday despite strong Chinese growth data that provided reassurance on the global economy for investors bracing for the spate of U.S. and European corporate results due this week.[ID:nLG524601]

U.S. stock index futures were firmer on Thursday, reversing earlier losses, helped by stronger-than-expected U.S. jobs data and a jump in quarterly profit at JPMorgan Chase & Co JPM.N. .N

On Wednesday the S&P/TSX composite index .GSPTSE closed up 229.31 points, or 2.3 percent, at 10,215.46.

Here is some news that could affect the market:


Canada's No. 4 independent oil explorer Nexen Inc reported a 95 percent plunge in second-quarter profit, as crude prices tumbled from near-record levels a year ago, and forecast sequentially lower production volumes for the third quarter. [ID:nBNG64586]


Research In Motion said on Thursday it will pay Visto Corp $267.5 million to settle all outstanding patent litigation over technology, ending a feud that has dragged on for a number of years. [ID:nN16532132]   Continued...